German Bank (Walnut, IA)

Episode Information

Episode Type
Suspension → Closure
Start Date
May 23, 1923
Location
Walnut, Iowa (41.477, -95.222)
Bank Type
state
Routing Number
72-0654
Canonical name
American State Bank
Alt. names
American Bank; German Bank

Metadata

Episode ID
Bank ID
City ID
190462626
Model
gpt-5-mini
Short Digest

Notes

Reorganization efforts are underway to raise capital; ultimate resolution (reopening vs. permanent failure) remains unclear from these articles.

Events (1)
1. May 23, 1923 Suspension
Cause Details
Article reports the bank closed its doors May 23 and describes it as defunct; no specific cause given.
Newspaper Excerpt
The bank closed its doors May 23, last.
Source
newspapers

Newspaper Articles (2)
1. August 3, 1923 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, August 3, 1923

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Article Text

REORGANIZATION OF WALNUT BANK SLOW WALNUT, Ia., Aug. 2.—Reorganization of the defunct American State bank, which closed its doors May 23, is marking time. Solicitors are working to raise $50,000 capital stock. A special effort is being made this week. According to W. M. Knutson, Council Bluffs, bank examiner for this district, the outlook is encouraging. Solicitors the past two days have met with fair success, he stated. He was reluctant, however, about making public the amount raised thus far. Stock certificates are of the denomination of $125.

2. August 23, 1923 Evening World-Herald Omaha, NE
Article from Evening World-Herald, August 23, 1923

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Article Text

REORGANIZATION SLOW OF STATE BANK, WALNUT Atlantic, Ia., Aug. 22.—Re-organization of the defunct American State at Walnut, west of here, is slow. The depositors have formed an organization to work with the bank examiners. Five hundred shares of the denomination of $125 are being offered for sale. The new institution, if plans materialize, will have a capital of $50,000 and a surplus of $12,500. About four hundred shares have been sold. Depositors expect to realize about 55 cents on the dollar. The bank closed its doors May 23, last.